Overview of Yen My Industrial Park – Hung Yen:
Yen My Industrial Park is located at km33, new road 39A, Lieu Xa, Yen My district, Hung Yen province.
A total of 280 hectares is allocated for the project, with 204 hectares available for lease and the remaining area dedicated to infrastructure serving businesses and workers.
On July 17, 2018, the Management Board of Industrial Parks of Hung Yen Province issued a certificate of investment registration for Viglacera Yen My Industrial Park Development Joint Stock Company with the project “Investment in construction and operation of infrastructure for Viglacera Yen My Industrial Park, Hung Yen province.” The total investment capital for this industrial park amounts to 2,348 billion VND, with implementation commencing in 2018.
The greatest advantage of the industrial park is its proximity to Hanoi and Hai Phong, making transportation extremely convenient. It not only attracts investors of all sizes but also creates employment opportunities for thousands of workers in Yen My district and neighboring provinces.
Furthermore, Yen My Industrial Park is located within the key economic region of Hanoi – Hai Phong – Quang Ninh. Moreover, it is situated right on National Highway 39A, approximately 2 km from National Highway 5 and around 7 km from the Hanoi – Hai Phong expressway. As a result, this location benefits from a well-connected transportation network, including various modes such as road, sea, river, air, and rail.
Infrastructure of Yen My Industrial Park – Hung Yen:
Internal Traffic:
The design of the internal traffic system aims to be modern and convenient, featuring road cross-sections ranging from 10.5m to 21m.
Electricity System:
The power supply for the industrial zone is sourced from the Yen My 110/22KV substation.
Public Lighting System:
The street lighting network is designed separately, with a power supply system arranged along the traffic routes.
Water System:
The water plant has a capacity of 15,000m3/day-night (for phase 1, 70ha: the Thang Long water plant supplies water, ensuring a capacity of 4,000-5,000m3/day-night).
Wastewater and Stormwater System:
- The planners and constructors separate the wastewater and stormwater systems.
- They run along the internal road routes to collect all stormwater and wastewater from the factories within the industrial zone.
Waste Management:
The factories within the industrial zone will enter into contracts with specialized units for waste classification, collection, and transportation to remove the waste from the industrial zone, avoiding environmental pollution.
Wastewater Treatment:
The wastewater treatment plant has a centralized capacity ranging from 8,000 to 10,000m3/day-night.
Communication System:
- Internet: Broadband ADSL service, international telecommunication (IDD), fiber optic cables, and leased lines.
- Telephone: The number of landlines depends on the needs of the investor.
Firefighting System:
The water supply system with fire hydrants is arranged along the industrial zone’s road routes.
Construction of the workshops of Yen My Industrial Park – Hung Yen
Industries attracting investment in The Industrial Park:
- High-tech applications and production of high-tech products.
- Manufacturing of electrical and electronic equipment, computers, and optical products.
- Production of automobiles, motorcycles, machinery, equipment, and precast metal products.
- Processing and preservation of meat, vegetables, and fruits.
- Production of beverages and wood products.
- Pharmaceuticals, cosmetics, paints, and packaging.
- Logistics services.
Advantages of investing in Industrial Park:
Cost of Labor:
- Viglacera Yen My Industrial Park is located in Yen My district, Hung Yen province, in Zone II.
- In Zone II, the current minimum wage stands at 3,920,000 VND per month.
Tax Incentives:
Regarding corporate income tax:
- Enjoy a tax rate of 10% for 15 years and exempt from tax for 4 years, with a 50% reduction in tax payable for the following 9 years for income derived from implementing new investment projects in certain special priority sectors as specified by the laws on corporate income tax.
- Enjoy a tax rate of 17% and exempt from tax for 2 years, with a 50% reduction in tax payable for the following 4 years for income derived from implementing new investment projects in sectors such as high-grade steel production, energy-saving product manufacturing, production of machinery and equipment for agriculture, forestry, fisheries, and salt production, irrigation equipment manufacturing, livestock, poultry, and aquatic feed production and refining, and more.
- Exempt from corporate income tax for 2 years and receive a 50% reduction in tax payable for the following 4 years for enterprises implementing new investment projects within the industrial park.
Regarding import tax:
Investment projects in the industrial park are exempt from import tax on imported goods to create fixed assets, as specified by the Law on Export Tax and Import Tax.
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The land for lease that belong to Industrial Park has run out of stock. Only the land and warehouse has been re-invested by individual investor that still available
TTTFIC Group: Guide to Industrial Real Estate in Vietnam
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